UniCredit targets China to develop a local network

Italian bank UniCredit is looking to consolidate its presence in China, where it operates three local branches in Beijing, Shanghai and Canton.

The Canton branch was opened in February 2012 after a three-years investment process, and is headed by Jonathan Lin.

The interest to further invest in the market was confirmed during an event by Roberto Nicastro, managing director at the bank.

Nicastro said the bank’s strategy is to create a distribution network in the country. To achieve this goal, UniCredit is willing to invest to open new branches in the country, developing desks with skilled local advisers able to keep the communication channel between China and Italy open.